Buy Strides Arcolab with stoploss of Rs 124: India Infoline

>> Tuesday, June 16, 2009

India Infoline has advised ‘high risk traders to sell Strides Arcolab with stoploss of Rs 124.

“On the daily chart, Strides Arcolab has given a bullish breakout. A detailed analysis of the volumes of Strides Arcolab reveals that maximum interest has been displayed by the traders in this stock since last week of May 2009. Yesterday, it made a convincing move above the top of the trading range. The daily momentum oscillators i.e. RSI and MACD are suggesting strength in the upmove. Keeping in mind the above-mentioned evidences, we suggest high risk traders to buy the stock between the levels of Rs 128-134 with a strict stop loss of Rs 124 for a short-term target of Rs 144,” said India Infoline report.

Note: The call is valid for time period of 1-3 days.
Source : Economic Times